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Business Reporter
THE country’s largest integrated media group, Zimbabwe Newspapers (1980) Limited (Zimpapers) recorded $1,200 billion revenue growth for the first three months ending 31 March, a 63 percent increase from the same period last year.

All the group’s divisions — broadcasting, newspapers and commercial printing — recorded volume recovery for the period under review.

The group recorded a net profit of $107 million before monetary adjustments compared to $88 million for the same period last year.

Although the profit before monetary adjustments was 21 percent better than the comparable period last year, the net profit margin declined to nine percent compared to 12,2 percent for the prior year, the Group Chief Executive, Mr Pikirayi Deketeke said in a trading update.

He said volumes for the Digital and Publishing Division (DAP) grew by 38 percent during the quarter under review when compared to the same period last year.

The division’s focus on volume recovery saw growth in both circulation and advertising.

“To that effect, circulation was 46 percent better driven by subscription recovery, whilst advertising was 26 percent favourable to the same period last year,” he noted.

On the Radio Broadcasting Division (RBD), the chief executive said 36 percent volume growth was recorded when compared to the same review period last year.

The volume growth was attributed to increased advertising campaigns by both the private sector and the national activities witnessed in the period under review, he said.

The improved performance of 56 percent in the Commercial Printing Division (CPD) was largely due to further relaxation of Covid-19 lockdown restrictions, improved availability of critical raw materials in the first 12 months of the quarter and improved machine reliability.

On outlook, Mr Deketeke said the group expects to launch its Zimbabwe Television Network (ZTN) channel in the second quarter.

This is envisaged to further increase the revenue base and fulfil the vision of becoming a fully integrated media house, he said.